Market wrap 04/02/2021

Trading activities on the Nigerian Equities market finished on a negative note as the All Share Index contracted by -0.51% to settle at 41,785.80 point. Today’s performance was largely due to point shed in Dangcem (-2.54%), Jberger (-6.19%), NNFM (-9.94%), Uacn (-1.78%), UBA (-1.13%), Zenithbank (-0.74%) and Guaranty (-0.15%). Also, market breadth closed in the negative territory with 25 laggards and 22 gainers. Nevertheless, gains in Ardova (+5.56%), Fcmb (+5.42%), ETI (+1.69%), UBN (+0.87%), Presco (+0.67%), Wapco (+0.36%), Dangsugar (+0.24%) and Stanbic (+0.22%) salvaged some points in the session.

Market turnover was N7.98bln ($20.87mln) buoyed by offshore related crosses in Guaranty,UBN and domestic interest in Fbnh. Year to date performance moderated to +3.76%. We expect the market to maintain a similar trading pattern in the coming session.

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